John has served as an integral part of Drake Software since 1995 in roles including CFO and CRO. A CPA since 1989, he holds degrees from Oral Roberts University and the University of Tennessee, with ...
With a host of tax and incentive programs, there are many reasons for taxpayers to install solar power generation systems. The tax benefits can include income tax credits, breaks on local real estate ...
The IRS will phase out the use of paper checks for refunds beginning Sept. 30 and will publish detailed guidance later. September 23, 2025 IRS keeps per diem rates unchanged for business travel year ...
The IRS may apply the step-transaction doctrine, a rule of substance over form, in a variety of taxpayer circumstances to deny tax benefits derived from a series of transactions that should more ...
On occasion, taxpayers holding investments in foreign financial assets or with foreign financial institutions may find themselves in the uncomfortable position of realizing that they have failed to ...
Each year, tax professionals who deal with real estate must evaluate the most recent building expenditures and determine which items should be deducted as a repair expense or capitalized. Of all the ...
Planning with revocable trusts has become increasingly popular in recent years. In many instances, the motives for using a revocable trust are nontax and include avoiding probate, asset protection ...
Please note: This item is from our archives and was published in 2019. It is provided for historical reference. The content may be out of date and links may no longer function. An expense that most ...
Editor: Valrie Chambers, CPA, Ph.D. Congress reduced the highest rate of income tax on corporations from 35% to 21% in the law known as the Tax Cuts and Jobs Act, P.L. 115-97. At the same time, the ...
Prior to the COVID-19 pandemic, the merger-and-acquisition (M&A) market had a string of years of strong activity. Seemingly overnight, COVID-19 changed the M&A landscape, as many transactions were put ...
Editor: Greg A. Fairbanks, J.D., LL.M. It is not uncommon for the parties to a merger or acquisition agreement to terminate the transaction before it is consummated. In such an event, the party that ...
Whether a taxpayer is subject to an accuracy-related penalty due to an understatement of tax is the most-litigated tax issue in recent years. Although the IRS wins a large majority of cases on this ...
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